Global Equity Heatmap: US Stocks Slip, Asian Markets Mixed as Indian Equities Eye a Flat Start

Global equity markets gave mixed signals as the Indian market opened, with Wall Street closing Friday a bit lower, Asian gauges moving unevenly, and crude oil still elevated.

US stocks ended in the red even after the S&P 500 glanced at a new record high earlier. The index eased about 0.2% and the Dow Jones Industrial Average dropped 107.59 points, or 0.2%. The Nasdaq Composite slipped roughly 0.3%.

Sentiment weakened as US-Iran talks stalled, and there were still concerns about shipping disruptions near the Strait of Hormuz. “Sentiment was weighed down by a preliminary University of Michigan consumer sentiment reading of 51, well below expectations of 55, alongside a July retail sales report that recorded the sharpest monthly decline in more than a year,” Ponmudi R, CEO at Enrich Money, said.

The Federal Reserve’s July meeting minutes, due Wednesday, will be another major trigger. Markets will look for clues on the September policy outlook, particularly with the US 10-year Treasury yield near 4.70% and Brent crude at $88.51 per barrel.

Asian Markets Open Mixed

Asian equities began the week on a mixed note. Japan’s Nikkei 225 traded nearly flat after gaining close to 5% last week, while Hong Kong’s Hang Seng climbed about 1.62%.

Mainland Chinese markets were stronger, with the Shanghai index gaining around 0.75%, the DJ Shanghai index rising nearly 1% and the China A50 advancing about 0.35%. Taiwan’s benchmark index was also up roughly 0.50%. South Korea’s KOSPI remained closed for a market holiday.

European Equities Stay Near Record Levels

European markets were subdued on Friday. The STOXX 600 declined 0.21%, while Germany’s DAX gained 0.53%. France’s CAC 40 slipped 0.16% and the FTSE 100 fell 0.21%.

Technology stocks offered some support, with SAP rising nearly 3% and Amadeus IT gaining more than 1.4%.

Also Read: Stock Market Update: Nifty 50 Opens 22.5 points Lower, Sensex Declines 116.33 points Amid Mixed Global Cues

Nifty 50 and Bank Nifty Outlook

According to Shrikant Chouhan of Kotak Securities, the short-term outlook remains weak, but holding above 24,200 on the Nifty and 77,500 on the Sensex could trigger a recovery toward 24,500 and 78,400.

For Bank Nifty, Sumeet Bagadia of Choice Broking said support lies at 57,000-57,200, while resistance is at 57,700–58,000. A sustained move above 58,000 could strengthen momentum, while a fall below 57,000 may increase selling pressure.